Three years ago, the AIM-quoted supplier of satellite-based vehicle tracking systems was valued at 65p a share. It now commands a booming 525p, and next Wednesday publishes its annual results.
The few hundred clients now being supplied by Minorplanet and its two main European competitors – TrackView and Trafficmaster – are just the tip of the iceberg, with an estimated 7 million potential customers in the UK and more than 12 times that figure in Europe.
New FD Rob Kelly, 38, was recruited from the Caudwell Group in July, where he was FD for Europe, Minorplanet’s key market.
Predecessor Andrew King, 42, helped set up a partnership with global fleet leader GE, which will fit the 1,500 cars it buys each month with the company’s tracking systems.
In May, the group announced a link-up with BT Cellnet to develop mobile capabilities for improved vehicle tracking, and the use of ADSL and universal mobile telephone systems (UMTS).
Kelly, an Oxford law graduate, qualified with Coopers & Lybrand.
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